ever, and she will be so glad to see you.

K.

"What a trump she is," murmured Ranald; "unselfish, honest to the core,
and steady as a rock. 'Some one else whom you adore.' Who can that be?
By Jove, is it possible? I will go right up to-night."

His last letter was from Mr. St. Clair, who was the chief executive of
the firm. He glanced over it hurriedly, then with a curious blending
of surprise, perplexity, and dismay on his face, he read it again with
careful deliberation:

MY DEAR RANALD: Welcome home! We shall all be delighted to see you.
Your letter from North Bay, which reached me two days ago, contained
information that places us in rather an awkward position. Last May, just
after you left for the north, Colonel Thorp, of the British-American
Coal and Lumber Company, operating in British Columbia and Michigan,
called to see me, and made an offer of $75,000 for our Bass River
limits. Of course you know we are rather anxious to unload, and at first
I regarded his offer with favor. Soon afterwards I received your first
report, sent apparently on your way up. I thereupon refused Colonel
Thorp's offer. Then evidently upon the strength of your report, which I
showed him, Colonel Thorp, who by the way is a very fine fellow, but a
very shrewd business man, raised his offer to an even hundred thousand.
This offer I feel inclined to accept. To tell you the truth, we have
more standing timber than we can handle, and as you know, we are really
badly crippled for ready money. It is a little unfortunate that your
last report should be so much less favorable in regard to the east half
of the limits. However, I don't suppose there is any need of mentioning
that to Colonel Thorp, especially as his company are getting a good
bargain as it is, and one which of themselves, they could not possibly
secure from the government. I write you this note in case you should run
across Colonel Thorp in town to-morrow, and inadvertently say something
that might complicate matters. I have no doubt that we shall be able to
close the deal in a few days.

Now I want to say again how delighted we all are to have you back. We
never realized how much we were dependent upon you. Mr. Raymond and I
have been talking matters over, and we have agreed that some changes
ought to be made, which I venture to say will not be altogether
disagreeable to you. I shall see you first thing in the morning about
the matter of the limits.

Maimie has got home